Head Of Tezos And Board Member Steps Down

Head Of Tezos And Board Member Steps Down

Head Of Tezos And Board Member Steps Down After months of infighting between the organizers of Tezos, a blockchain project currently in development, and the Tezos Foundation, a Swiss nonprofit that controls the project’s pursestrings, after two board members of the Tezos Foundation, including its founder and president Johann Gevers, voluntarily resigned and were replaced

Head Of Tezos And Board Member Steps Down
After months of infighting between the organizers of Tezos, a blockchain project currently in development, and the Tezos Foundation, a Swiss nonprofit that controls the project’s pursestrings, after two board members of the Tezos Foundation, including its founder and president Johann Gevers, voluntarily resigned and were replaced by Tezos community members.

According to an announcement from the Tezos Foundation, Johann Gevers, former President of the Foundation, resigned and will be replaced by Ryan Jesperson, collaborator of the project Tezos and Michel Mauny.

Michel Mauny is also a dedicated member of the community. In addition to serving on the Tezos Board of Directors, he is a Senior Scientist at the French Institute of Science and Technology.

Tezos, a blockchain project aiming to compete with the likes of Ethereum and Cardano, was co-founded by Kathleen and Arthur Breitman. In an uncapped initial coin offering (ICO) put forth as a “fundraiser,” the project raised $232 million worth of bitcoin and ether in July 2017. Those funds, which grew in value to around $1 billion due to this year’s rally in cryptocurrencies, were put in the control of the Tezos Foundation.

According to reports, the dispute originated a month before Gevers drew up a compensation package for himself, which the Breitmans claimed was excessive and not properly disclosed. It’s likely that the event also acted as a signal to the Breitmans that in setting up the Tezos Foundation, an organization that was supposed to operate completely independently of Dynamic Ledger Solutions, they had put too much control in the hands of too few people.